I posted the article, as I thought it was timely, given the the current level of interest in the economy, and particularly the fiscal cliff. As all sides turn up the heat, much of the back and forth has been reduced to talking points, leaving many Americans confused and likely to follow whatever party, or news broadcast, or leader that has obtained their confidence.
Admittedly, the numbers, from whatever source, can be confusing, and I'm not sure that the article shed a spotlight on the answers. For those who might be interested in things like "What does it take to make it into the top 1%... or 2, or 5 or 10 or 20 percent... Here's a challenging article that tries to explain that...
How Much Money Does It Take To Be In The Top 1% of Wealth and Net Worth in the United States
As I struggled with the Wolff study, one thing came through to me... the part about the effect on the economy as a whole that comes from the consumption base of the middle class. The middle three quintiles.
Although the sourced base of the study necessarily came from existing data that does not include the past two years, even a moderate increase would not begin to provide a floor for the the 3 to 5% growth rate needed for a strong recovery.
As I watch the people in the media trying to frame the political picture, it looks to me as if the answer has to be a return of the lost wealth to the middle class... I cannot see any way in which investment in business can, by itself, create jobs or increased profits, without a consumer base to buy product or services.
The way this takes place 'or not' ...(getting more spending money into the hands of the buying public)...will be deciding factor that will be important to our neartime future, in my opinion... Getting any results at all will be a delicate balancing act.
My opinion only... Am willing to be convinced otherwise... Whatever happens, won't likely affect DW and me, so I don't have a vested interest.
My concern is for the future of the country, and shouldn't like to see the wealth inequality continue on the current path.